BEIJING, Feb. 15, 2008 (PRIME NEWSWIRE) -- Noble Quests, Inc. ("Noble Quests") today announced the appointment of Mr. Richard Vogel, Chief Operating Officer of Loeb Enterprises, to the company's board of directors. Mr. Vogel is a founding partner of Loeb Enterprises and has served as the company's COO since its inception in 2005.
Jeffrey Dash, CEO of Noble Quests, said, "We are very happy to have Richard Vogel joining the board. In any business that seeks to consolidate an industry like Legend Media plans to do, we are often asked, 'Do you have the management in place to execute your business plan?' Mr. Vogel helped build Synapse Group, which was then sold to Time Warner in excess of 500 million. It is that type of hands-on entrepreneurial experience that will make him an invaluable asset for the company in implementing our plan."
Prior to founding Loeb Enterprises, Mr. Vogel was the President of MDSC Corporation, a wholly-owned subsidiary of the Synapse Group, Inc. While at Synapse, from 1994 to 2005, Mr. Vogel headed each of the company's operating units and was responsible for its marketing partnerships with nearly all of the top U.S. credit card issuers, catalog companies, international airline carriers and major e-commerce companies.
Prior to joining Synapse, Mr. Vogel held a number of positions in consumer marketing at Time Warner, where he served from 1988 to 1994. His expertise lies in the development and deployment of innovative marketing platforms targeted at consumers in the U.S. and abroad. Mr. Vogel began his career working for E.F. Hutton on the floor of the New York Stock Exchange.
Jeffrey Dash commented, "In our research of acquisition targets we have noticed the utilization rates for Chinese radio stations is close to 30%, in comparison to 95% in the U.S. markets. We believe our opportunity is similar to the U.S. when radio first began." Mr. Dash further commented, "With our current management and Rich's experience, we believe we will be able to help the companies we acquire maximize their utilization. That is why we are so excited about this opportunity."
Mr. Vogel holds a BS in Finance from the University of Connecticut and an MBA in Finance from the Stern School of Business at New York University.
Noble Quests, Inc. recently announced that it has closed a Share Exchange Agreement with Well Chance Investments Limited ("Well Chance") and its shareholders (the "Share Exchange Agreement"). The Company intends to change its name to "Legend Media, Inc." ("Legend Media") and change its ticker symbol by the end of February 2008.
About Noble Quests, Inc.
Noble Quests, Inc., through its wholly-owned subsidiary Well Chance Investments Limited ("Well Chance"), intends to build a leading consumer advertising network in China that reaches consumers through multiple advertising mediums, with a specific near-term focus on radio. Well Chance is run by its world-class Executive Team, Advisory Board, and Board of Directors. These teams have helped to establish a network of partners in China and the United States that are actively working to build the company's customer base, refine its business development strategies, and identify additional acquisition candidates. Well Chance leverages these partners to manage its relationships with major national and international advertising agencies, while local operators focus on maintaining radio station and advertiser relationships within their local markets. Well Chance currently has several Letters of Intent for acquisitions in place which they expect to close in the first quarter of 2008.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release and the Company and Well Chance assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at http://www.sec.gov.